Zacks Investment Research Lowers Andeavor Logistics LP (ANDX) to Sell
Andeavor Logistics LP (NASDAQ:ANDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Andeavor Logistics LP engages in the ownership, operation, development and acquisition of crude oil and refined products logistics assets. It operating segments consist of Gathering, Processing and Terminalling and Transportation. Gathering segment consists of crude oil, natural gas and produced water gathering systems in the North Dakota Williston Basin/Bakken Shale area and the Uinta, Vermillion and greater Green River basins. Processing segment consists of gas processing complexes, including an interest in Green River Processing LLC, which owns fractionation facility and gas processing complexes. Terminalling and Transportation segment consists of regulated common carrier products pipeline running from Salt Lake City, Utah to Spokane, Washington and a jet fuel pipeline to the Salt Lake City International Airport. Andeavor Logistics LP, formerly known as Tesoro Logistics LP, is headquartered in San Antonio, TX. “
Several other research firms have also commented on ANDX. Barclays PLC reiterated an “overweight” rating and issued a $62.00 price target (down from $65.00) on shares of Andeavor Logistics in a research report on Thursday, August 10th. BidaskClub upgraded shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Credit Suisse Group increased their price target on shares of Andeavor Logistics from $59.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. Scotiabank reiterated a “buy” rating and issued a $59.00 price target on shares of Andeavor Logistics in a research report on Thursday, August 17th. Finally, Mitsubishi UFJ Financial Group upgraded shares of Andeavor Logistics to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $59.80.
Shares of Andeavor Logistics (ANDX) traded down 1.43% during trading on Wednesday, hitting $46.80. The company had a trading volume of 781,983 shares. Andeavor Logistics has a 52-week low of $43.00 and a 52-week high of $60.14. The stock’s 50-day moving average is $48.98 and its 200 day moving average is $51.13. The firm has a market capitalization of $5.06 billion and a P/E ratio of 24.63.
Andeavor Logistics (NASDAQ:ANDX) last issued its earnings results on Tuesday, August 8th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.01). Andeavor Logistics had a net margin of 26.63% and a return on equity of 15.11%. The company had revenue of $413.00 million during the quarter, compared to analysts’ expectations of $441.69 million. Equities research analysts predict that Andeavor Logistics will post $2.57 earnings per share for the current fiscal year.
In other Andeavor Logistics news, insider Steven Sterin purchased 1,000 shares of the stock in a transaction dated Friday, August 25th. The shares were acquired at an average cost of $47.86 per share, for a total transaction of $47,860.00. Following the completion of the transaction, the insider now directly owns 7,338 shares of the company’s stock, valued at $351,196.68. The purchase was disclosed in a filing with the SEC, which is available at this link.
Andeavor Logistics Company Profile
Andeavor Logistics LP, formerly Tesoro Logistics LP, is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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